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Sideways

Volume ProfileAs I mentioned in previous posts, #BTC reached a significant resistance. It seems that it tends to touch the middle of the side-way zone. considering the volume profile of the last up trend within this side-way region, one can see the important levels. I believe that regions around $38200, $34200 and $32200 are possible targets for down trend. According to the volume profile, there are many orders around $42000. So, this zone could be stop hunter region where BTC just hit it by a shadow(wick) not to break it. I would be glad to have your comments and ideas. please leave me your comments
by master-in-chart
Looks like there could be some sideways movementMy publishing are for my personal references and made public for anyone that can find it useful. Any opinions are welcome Looks like we are entering a bullish trend for GRT Support held up well and broke through the trendline while doing it I am looking to trade this up until the resistance line where I would most likely sell and wait for the next move(depending on price action I could hold longer because there is a possibility of it going to the $2.20 mark) I currently hold a position that I will be adding more to especially if it drops which it most likely will(im thinking in the .50-.55 range) I like the odds on this one for a nice sideways movement I will be holding this position for 3+ months or longer until one of these targets are hit. I am not using any stop loss because I will just be adding to my position if it does not immediately just hit the target(you never know) Thank you for checking it out! There is a strong resistance at the .78 range which needs to be broken to hit the next target.
by jgrullon11
BTC/USDT Wyckoff Accumulation - 80% Accurate?BINANCE:BTCUSDT My Cleanest that I can come up with. What I did consider why somehow it is inaccurate. 1. Anticipation - Price where moved a bit and some are delayed in dip/pump. 1 reason: because of the market manipulation which will make this market a bit inaccurate down to 80% probability. 2. Fundamentals - Crypto fundamental analysis involves taking a deep dive into the available information about a financial asset. For instance, you might look at its use cases, the number of people using it, or the team behind the project. Your goal is to reach a conclusion on whether the asset is overvalued or undervalued. 3. Significant Dates - For example. the 12th of July 12AM and July 17 2021. These are significant dates because of the events that may come. Example for that is GBTC wallet release for July 17th of 2021. 4. Technicalities - I am just allowing myself to have fun with the market it allows us to make educated guesses about whether a digital asset's price will increase or decrease in the future. 5. Market Psychology - my observance and collection of wallets to produce prevailing behaviors and aggregate sentiment of market actors at any point in time. The term is often used by the financial media and analysts to explain market movement that may not be explained by other metrics, such as fundamentals. =========================================================================================================================== REF: www.investopedia.com Phase A The selling force decreases, and the downtrend starts to slow down. This phase is usually marked by an increase in trading volume . The Preliminary Support (PS) indicates that some buyers are showing up, but still not enough to stop the downward move. The Selling Climax ( SC ) is formed by an intense selling activity as investors capitulate. This is often a point of high volatility , where panic selling creates big candlesticks and wicks. The strong drop quickly reverts into a bounce or Automatic Rally (AR), as the excess supply is absorbed by the buyers. In general, the trading range ( TR ) of an Accumulation Schematic is defined by the space between the SC low and the AR high. As the name suggests, the Secondary Test (ST) happens when the market drops near the SC region, testing whether the downtrend is really over or not. At this point, the trading volume and market volatility tend to be lower. While the ST often forms a higher low in relation to the SC , that may not always be the case. Phase B Based on Wyckoff’s Law of Cause and Effect, Phase B may be seen as the Cause that leads to an Effect. Essentially, Phase B is the consolidation stage, in which the Composite Man accumulates the highest number of assets. During this stage, the market tends to test both resistance and support levels of the trading range. There may be numerous Secondary Tests (ST) during Phase B. In some cases, they may produce higher highs (bull traps) and lower lows (bear traps) in relation to the SC and AR of Phase A. Phase C A typical Accumulation Phase C contains what is called a Spring . It often acts as the last bear trap before the market starts making higher lows. During Phase C, the Composite Man ensures that there is little supply left in the market, i.e., the ones that were to sell already did. The Spring often breaks the support levels to stop out traders and mislead investors. We may describe it as a final attempt to buy shares at a lower price before the uptrend starts. The bear trap induces retail investors to give up their holdings. In some cases, however, the support levels manage to hold, and the Spring simply does not occur. In other words, there may be Accumulation Schematics that present all other elements but not the Spring . Still, the overall scheme continues to be valid. Phase D Phase D represents the transition between Cause and Effect. It stands between the Accumulation zone (Phase C) and the breakout of the trading range (Phase E). Typically, Phase D shows a significant increase in trading volume and volatility . It usually has a Last Point Support ( LPS ), making a higher low before the market moves higher. The LPS often precedes a breakout of the resistance levels, which in turn creates higher highs. This indicates Signs of Strength (SOS), as previous resistances become brand new supports. Despite the somewhat confusing terminology, there may be more than one LPS during Phase D. They often have increased trading volume while testing the new support lines. In some cases, the price may create a small consolidation zone before effectively breaking the bigger trading range and moving to Phase E. Phase E Phase E is the last stage of an Accumulation Schematic. It is marked by an evident breakout of the trading range, caused by increased market demand. This is when the trading range is effectively broken, and the uptrend starts.
Long
by PuyatanHoldings
1
BITCOIN - Move Your Lazy Ass!!!Hello everyone, rouzwelt here It's been a few days since my last post, but not much has happened in these few days, just sideways, no clear direction, no domination from either sides. My last short trade is still active at 34850, price couldn't reach the last swing high and therefore my SL is still at its place. Let me say that I still lean more towards the down side as price have not been able to print any higher high in these few days, but we can see a lower low (not with much difference, but still technically a lower low) and we see a bit more volume at impulse moves down compared to impulse moves up which indicates slightly more dominance from bears at this moment but not a definitive one. You can see 2 red horizontal lines in the chart which I believe are the definitive lines for bitcoin to take out if it wants to get out of this current sideways channel. 35K would be the level for local uprise and 29K would be the level for downfall. I have projected the possible price actions for those scenarios if we see a breakout happening in next couple of days or so. But I should note that bitcoin might still stay in this channel and continue its sideways move for quite some time until one side can dominate the other and if the current condition we're in manages to continue it would favor the bears as the price is closer to the lower side of the 30/40k range and is getting closer to the end (crossing point) of the blue down trend line and 29/30k resistance area (forming a down-sloping triangle and potential bear-flag). It's worth mentioning that right now we clearly see no enough sellers, but we don't see enough buyers neither and actually as price fails to print any local higher high it keeps more potential buyers away from entering which is clearly visible through the bars volumes, this makes it more favorable for bears to push further. Many talk about 30k being the bottom and that the price can't go any lower than that, or that the 30k support is so strong that it can't break, well it is a strong psychological support but that doesn't mean it can't break, it definitely can, as long as there are not enough buyers and interests at current price levels it can always break to find more interests again and build its base for the next leg up. I'd like to talk briefly about Alts here, I believe if Bitcoin continues its current sideways move for couple of weeks, we can expect some bullish moves from alts, but if BTC start another sell-off then alts will follow obviously. So right now I'm starting to look for some potential short-term buy setups on some large-cap alts and I'll be sharing them here if I find any good one and It kinda would be a good hedge for me as well if I find any buying opportunity on them as my short position on BTC is still open. That's all for now, if you find this post useful then consider supporting me by hitting like and write a comment if have any opinion about my analysis, I'd be happy to read your thoughts about it. Thank you and as always have fun and trade safe.
by rouzwelt
6
Gold has no concrete direction right now! After finishing an uptrend, the chart broke its parallel channel and entered a side way consolidation phase. In this current situation, there is no solid speculation for the future of the chart. The only thing which is possible here is to short when we are near the top and open a long position near the bottom(supporting areas). We should be cautious about tonight’s federal reserve’s statement. That news would make the markets move very extremely! Good luck.
OANDA:XAUUSD
by khanzadiashkan7
BTC Sideways + NEW Market Type Indicator for screening marketsBTC has been in a neutral/sideways market for quite some time now! I'm stockpiling my coffers in preparation for an upwards breakout, retest, and continuation of the long term up trend. Watching my latest indicator, Anticipated Market Type to signal when I should start using my trend trading strategy again. In the meantime, I've been running a sideways/mean reversion strategy for capturing the consolidated market when the AMT indicator displays SIDEWAYS and I stop trading at NEUTRAL. My DD has been consistently low and I avoid the low volume and low volatility periods when market is NEUTRAL. If you've been holding on to cash while waiting for the the right moment, consider using my newest indicator (or their sub-components, MMI and FD ) in your next trading session. Cheers
COINBASE:BTCUSD
by DasanC
1
JICPT| Gree is testing M bottom, creating buy opportunity Frankly speaking, I love Gree which is still the best Air conditioner manufacturer in China. I started to trade it back in 2012 and still hold some shares as of today. The company has been up by more than 900% in the past ten years. It used to be must-have stock for value investors due to its outstanding financial performance. However, things started to change from 2018. The below is my personal view for reference: 1. single-product line business strategy: No doubt, Gree makes the best AC with competitive price. But 92% of its revenue comes from AC. However, the AC sale has highly correlated with real estate. I recall annual sale of ACs are capped at 23-25 million per year. Against the backdrop of structure reform, government wants to replace the model with new one(innovation) to achieve GDP growth, not through selling properties. I don't see numbers will jump in the coming years. 2. Diversified development strategy failed: Gree announced to make phones, cars, and invest billions into chip companies. But all ended in failure. I think it's better for the management to focus on the home appliances, e.g. floor cleaning robot, window cleaning robot. Some Chinese companies are doing those stuff very well. Their share price soared into sky! 3. Rising input costs: With the super loosing monetary policy from central banks around the world, commodities, such as copper, created new highs. We know, copper accounts for approximately 30% of the cost of producing an air conditioner. it started to become an major issue for AC manufacturers, including Gree. I think they have no choice but to increase the price to hedge the rising cost. But that might impact consumers' willingness to buy. So, I need to read the half-year financial report to do my own research. Back to the technical side, Price retreated to 61.8% fib level with M formation and Gap. The bad formation is the crossover of the MAs. So, price might go sideways for a while before buyers take control. I think the 47-50 would be the bottom by checking the PE band of last 10 years. Give me a like if you're with my idea.
SZSE:000651Long
by JICPT
JICPT| BABA/BIDU sideways structure formationIt's been almost four months since I published the pair trading idea titled 'BABA/BIDU, pair trading opportunity'. I felt great to catch this one and suggest closing the position around 1.15. From the chart, it's easy to see a sideway pattern has been formed with upper and bottom boundary of 1.20 and 1.05 , respectively. My trading strategy is to buy the pair when it comes to 1.05 . As I mentioned in my previous post, 1.5 is my target depending on how strong the momentum is. The basic idea behind this is statistics, central limit theorem that I believe the ratio will go back to its normal range. Of course, there are other things as well. It's my personal favor of BABA over BIDU. I use Taobao, Tmall, the products of BABA almost everyday. BIDU? probably just use the search engine two to three times per week. I'm not saying that BIDU is not a good company. What I mean is that compare to BABA, BIDU is less competitive in my view(Sorry for BIDU fans, it's my personal feeling). Admittedly, BABA's price has been hurt a lot by the anti-trust investigation and business uncertainties along the way. But it seems to me that government didn't aim at shutting it down. The fine was just a one-time-off pain. In my opinion, the show must go on. BABA will grow in a lower but stable rate. That's my projection. Let's see how the pair performs in the future. Give me a like to support me. Thank you very much.
NYSE:BABA
by JICPT
2
HSI 7% range move with buy low and sell high pattern! Hello everyone. Hong Seng index has been sideways for a while influenced by the joint forces of US and China markets. From the daily chart, the 7% range will be held firmly from some time. I would adopt a buy low and sell high trading strategy. Strategy works until it doesn't. My trade plan is as below: 1. the upper zone being violated: buy the pullback with target set around previous high around 31000 2. the bottom zone being violated: exit and look for buying opportunities around 25000. Stay safe and trade safe.
TVC:HSI
by JICPT
JICPT| Gold on sideways, buy low and sell high! Hello everyone. As I mentioned in my previous published idea about gold that it has retreated to weekly flip zone. I'm right about rebound and the key control high zone which buyers need to conquer to establish bullish trend . The grey area was what I marked days ago. My trading plan is as below based on the weekly and hourly analysis: 1. Buy low: 1763-1760 is a good entry zone. Do remember to set your stop. Once the zone is violated, sideways is terminated and we need to look for other setups. 2. Sell high: If you have long position, sell at the zone of 1791-1797. If momentum is strong, we can buy the pullback. Don't be too concerned about missing the opportunity. There are a lot out there everyday depending on the timeframes. Give a like if you're with me.
FX:XAUUSD
by JICPT
1
BTC continues sideway move to test previous lowHello everyone. As I have previous mentioned in my published ideas, there are 4 bitcoin influencers as below: 1. Elon Musk who often influences bitcoin price via twitter . Price move could be up or down. 2. Chinese government is definitely against crypto, except the Digital Currency Electronic Payment (DCEP). Normally, BTC got smashed by relevant news from China. Btw, China accounts for more than 50% of the global bitcoin production. 3. US financial institutions are supporters. They have clear plans to set up fund for wealthy clients, e.g. JP, Wells Fargo. So positive for the crypto. 4. US government senior officials express concerns on BTC for money laundering issues. However, this only lead to tighter regulation, not ban of the crypto. The recent drop is attributed to China's crackdown on the crypto mining in Sichuan Province. The local government demanded to close 26 suspicious crypto mining projects by Sunday. The electricity companies was requested to conduct inspections and stop supplying electricity accordingly. So, I'm not keen to use leverage to trade bitcoin. There are bitcoin ETF(GBTC) out there. The sideway move works until it doesn't. I will pay close attention to previous low. Once broken, the nearest firm demand zone is around 20000. Stay safe and trade safe! Give me a like if you're with my idea.
BITFINEX:BTCUSD
by JICPT
This ain't it.You can draw lines all day but it's the data underneath the price action you need to uncover. Volatility, price action, and volume look pretty similar across the board between now and successful retests of a upside pennant breakout. The one thing that leaves me questioning the success of this retest is the OBV. On Balance Volume is a cumulative value that adds the volume if the price went up and subtracts it if it goes down. Essentially, this indicates whether the price action is backed by more bears or bulls. We've currently broken out of the pennant, and most of us figured we'd retest it, but has anyone really thought about who's winning the volume game? It appears to be close, but the bears seem to have a touch more control currently, so I don't see this retest being successful. However, since everything else looks identical, we're in a tight game of tug-o-war, and we'll continue to go sideways until there's reason to join one side - which there doesn't seem to be any outside motivators .
by Ungovernable
2